Skip to main content

Investing in Life Insurance

Buy Best Life Insurance Online


Buying life insurance can be a crucial decision. Some people may choose to buy a cover early in life. Others may leave it until later. If you are thinking of investing in a life insurance policy, here are 10 points you may want to know.


1. Necessity: Investing in a life insurance policy can make complete sense if you are taking care of other people. Life insurance provides more than the death benefit. It may help you prepare for any uncertainties. But what if you plan to remain single? Or, you do not have any future liabilities? Then you may think again before buying a life insurance policy.


2. Purpose: You may feel investing in life insurance is a fundamental need. Then consider the purpose of buying your policy. For example, do you expect your policy to pay for your child's education in case of an uncertainty? Or, do you want it as a security for your high-risk job?


3. Coverage: Individuals need different insurance covers. What is the amount of cover you need? Your annual income may not be the ideal figure to calculate your desired cover. You may want to consider other important factors before deciding. What is your age, profession, and medical condition? How many people are dependent on you? What are your financial goals?


4. Category: If you are clear about the purpose of your life insurance and the amount of cover you need, it will help you choose the category of insurance you want to buy. You can opt for either a term insurance cover or a whole insurance cover. Do you want to pay a fixed premium rate for a specific period of cover? Then a term insurance is best for you.


5. Debt: When you decide to invest in a life insurance policy, you have to know how much you are able to pay. So you may want to consider any debts you already have. These existing debts could hamper your ability to pay the insurance premium on time. This delay could end your policy. Most insurance companies may also increase the premium when you renew your policy.


6. Investment: You may not want to ignore the investment element while purchasing a life insurance cover. A unit-linked insurance policy (ULIP) provides for death benefit and financial security. It may also provide an opportunity for your investment to grow by linking it to the stock market.


7. Protection: Your life insurance policy may pay for unexpected events such as death, disability, and sickness. It could provide protection to your loved ones by reducing the effects of loss of income due to death. You can even draw a loan against your life insurance policy. Many banks and financial institutions accept it as a guarantee.


8. Savings: Investing in a life insurance policy could lead to savings. A term life insurance could leave you with cash in hand. You could use this money for other investments. For example, you could pay a certain amount of premium for a specific time. You could then use the rest of the insurance amount to buy a child plan. You may accumulate cash value with permanent life insurance and get tax-deferred growth.


9. Tax benefits: Life insurance premiums are exempt from tax up to a certain amount. The claim amount received by the beneficiary is also tax-free. But each policy is different. So it is important for you to know how much you will be paying to keep your policy practical. Sometimes the cost may be more than the tax benefits.


10. Terms: Each life insurance policy has different terms and conditions. You need to understand and read the complete policy document before signing to buy. You may want to know the future impact on the premium. You may also want to know if there is any bonus or cash value that you could withdraw in the near future.







------------------------------------------
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


For further information contact Prajna Capital on 94 8300 8300

--------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Call us on 94 8300 8300

---------------------------------------------

 

Popular posts from this blog

Understanding Your Cibil Credit Information Report

   WE ARE all familiar with the anxiety and uncertainty that we feel when applying for a loan. After all, it's the lender who decides whether we can own our dream home, our first car, or whether our children can pursue higher education. In a nutshell, a better life depends on the lender's decisions.    While other factors do play a part in the lender's decision, the Cibil Credit Information Report ( CIR ) plays a crucial role in a lender's decision to approve a loan application.    Previously, lenders would treat all loan seekers equally. Each applicant, if approved by the lender's internal credit policy, would be charged at the same interest rate for a particular loan size and purpose. The lenders would charge a higher interest rate to all the borrowers, in order to compensate for the possible default of a small portion of the loan disbursed. In other words, it's like a professor (the lender) punishing an entire class (borrowers) for the mischief played b...
Read more

REC Tax Free Bond Issue

Tax Saving Mutual Funds Online Current open Infra Bond Application form   Download REC Tax Free Bond Application Forms REC (Rural Electrification Corporation) is going to issue tax free bonds and the issue will open on March 6 2012 and will close on the 12th of March 2012 When you buy 80CCF infrastructure bonds, the amount you invest in those bonds get reduced from your taxable income but in these bonds that's not going to be the case. The interest on these bonds will be tax free and they are similar to the other tax free bonds like the HUDCO, NHAI and PFC issues. For the two of you interested in knowing this – these bonds are tax free under Section 10(15)(iv)(h) of the Income Tax Act. Now on to the issue itself and let's start with the high credit rating that the issue has got. The REC tax free bond issue has been given the highest rating by all issuers since the government owns the majority stake (66.8%) in REC, it has been consistently profit making,  this is a se...
Read more

Good Loan

Why Is It A Good Loan?: Loans against gold are cheaper and better than personal loans as the former are available at lower interest rates. In contrast, the interest rates on personal loans are not standardised and can vary from bank to bank. Also, a personal loan depends on a host of factors including, the borrower's salary, profession and the purpose for which the loan is being taken.      For instance, the interest rate on a personal loan of 5 lakh falls in a wide range of 15-30%. But loans against gold are available for as low as 11%. Secured borrowing such as a loan against gold, investments or property is cheaper because it is backed by some assets, which command a good value at any point of time. If the borrower defaults on the loan, the banks can liquidate the assets to settle the loan account.    Being a secured loan, the risk of default and credit losses is significantly lower in this loan compared to other forms of loan for personal use. Given the lower risk, gold loa...
Read more

Reliance Health Total

  Reliance Life Insurance has launched Reliance Health Total, a non-linked, non-participating and non-variable health insurance plan . It provides a fixed benefit cover for hospitalisation, critical illnesses and surgeries. The customer can also make a claim for over-the-counter health-related expenses. This is a regular-pay, five-year plan that can be renewed till the age of 99. The plan comes with two options: customers can choose a higher medical reimbursement benefit or a higher sum insured. Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara Robeco Equity Tax Saver 8. IDFC Tax Advantage (ELSS) Fund 9. Axis Tax Saver Fund 10. BNP Paribas Long Term Equity Fund You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds Invest in Tax Saver Mutual Funds Online - I...
Read more

Right Size your SIPs in terms of tenure and amount

Buy Gold Mutual Funds Invest Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Call 0 94 8300 8300 (India)    Systematic investment plans ( SIPs ) are here to stay. Going by the growing number of SIPs, it does look like investors have taken to them in a big way. Today as much as . 1,000 crore flow into SIPs every month. A SIP, as the name denotes, is a method to invest a fixed amount in a mutual fund at regular intervals --generally monthly or quarterly. It is easy to do and the minimum amount with most mutual funds is a mere . 1,000 per month. You can write post-dated cheques for your investment, or give an auto-debit facility from your bank account. In fact, most investors today prefer setting up an auto debit for their SIPs, since writing cheques is cumbersome. Also, you can choose any tenure that you want for your SIP — six months, one year, five years, 10 years or even opt for a perpetual SIP which will continue forever till you stop it....
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now